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International Real Estate

How to increase your sales by 8%? Drones and virtual technology are the key to international realty transactions.

According to the NAR international transactions are up 8%. Your international buyer is different than a domestic buyer. They cannot fly across the world to view a open house. There must be a high level of trust between the Realtor and the buyer. Drone aerial photography will help Realtors build that level of trust.

But, who would dare to buy a home without looking at it? Would you spend several million dollars on a house without setting foot in its first? How about several hundred thousand dollars? Sight unseen is actually becoming more common amid the frenzied competition of today’s real estate market. The reality is that a great many people are buying houses sight unseen. In general, shopping for items sight-unseen is trending up even with homes. Unlike any other time in history a buyer can inspect the neighborhood, home and yard. Military families, international CEO’s, international families, and many other professionals are forced to purchase a home this way, because of their circumstances. International real estate buyers are requesting a HD video of both interior/exterior of the property and the neighborhood. Sometimes it’s just not feasible for buyers to check out the home in person. Not everyone interested in buying a home has the luxury to spend hours, or even days, checking out different homes.

Car buyers have been purchasing autos for many years sight unseen. USA Today reports that three out of four drivers polled worldwide say they would consider buying their car entirely online. The results are interesting because they appear to point to less interest by consumers going to dealerships and kicking the tires before they buy. It even calls into question whether many feel they need a test drive. Almost half said they would be open to a “virtual test drive” at a dealership. The first priority in selecting a car that can’t be viewed in person is to select a car that is advertised with a HD photography or HD video. Car buyers have learned to find dealers that advertise with in-depth information on the vehicle and have the best HD photography of the vehicle. Traditional brick and mortar dealers were not prepared for the online buying experience and their sales numbers suffered tremendously. Their reasoning was to focus on fundamentals, they were not wrong they were just short sided. Today’s successful dealerships focus on fundamentals and technology. He who has the biggest web presence is going to win the car buyer in today’s market,” says Jeff Collins, digital-marketing sales director for Peters Chevrolet in Longview, TX. He estimates 90% of the dealership’s car buyers first gather information on the Internet before heading to the store, “sound familiar”. Dealers need marketing skills so their stores and inventories stand out. “In just five years the amount of inventory online has exploded, thanks to high-speed inventory and savvy shoppers,” says Kevin Filan, AutoTrader’s vice president-consumer marketing.

When purchasing a home sight unseen, buyers are relying almost exclusively on the honesty and forthrightness of the agent, the marketing literature and high quality photography. There are systems and procedures that can help ensure the buyers make a sound real estate purchase. Advances in how companies use technology to evaluate mountains of data images has changed everything from online car buying to online auctions. Behind the new speed in real estate is a change in how buyers shop for their next home. Buyers are doing their homework with the Internet these days: aerial photography, disclosures, Google maps, etc. With drones and HD cameras residential real estate is poised to be the next frontier for speed-based real estate?